During today’s Q4 earnings call, Live Nation CEO Michael Rapino addressed the company’s proposed merger with Ticketmaster, claiming he was still “very confident” that the deal would go through, even after last week’s set of hearings before Congress.
He also said that even though Live Nation has almost completely transformed its operations as executives planned to do three years ago, the Ticketmaster merger is part of this ongoing strategy in that it will enable Live Nation to strengthen its ticketing and e-commerce business faster than it would be able to if the company was working alone to improve this part of its business. And he reiterated that the current economic situation compels Live Nation to take this faster route, saying that neither Live Nation nor Ticketmaster is moving quickly enough to address artist and fan needs in these times. He argued that a merger would combine Live Nation’s strong growth profile with Ticketmaster’s attractive cash profile.
But he maintained that Live Nation could achieve one of the goals it hopes to accomplish through the Ticketmaster deal, strengthening its ticketing and e-commerce business, with or without a merger.
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